13F-HR 1 q40713f.txt 4TH QUARTER 2007 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION "Washington, D.C. 20549" Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 31-Dec-07 Check here if Amendment [ ] ; Amendment Number: ________ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manger Filing this Report: Name: "Perkins Capital Management, Inc. " Address: "730 East Lake Street, Wayzata, Minnesota 55391" SEC File Number: 801-22888 The institutional investment manager filing this report an the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that is understood that all required items, statements, schedules, lists and tables are considered integral parts of this form Person signing on this Report on Behalf of Reporting Manager Name: Richard C. Perkins Title: Executive Vice President/Portfolio Manager Phone: (952) 473-8367 Signature: /s/Richard C. Perkins Place and Date of Signing: "Wayzata, MN" 17-Jan-08 Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] "13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) NAME TITLE VALUE SHRS/ SH/ PUT/ INVSTMT OTR VOTING AUTHORITY OF ISSUER OF CLASS CUSIP (x$1000) PRN MAT PRN CALL DSCRTN MGRS SOLE SHRD NONE ABBOTT LABS COM 002824100 212 3775 SH Sole 300 3475 ADDVANTAGE TECH NOLOGIES GP I COM NEW 006743306 679 110000 SH Sole 110000 AERO GROW INTL INC COM 00768M103 375 60525 SH Sole 30625 29900 AGILENT TECH NOLOGIES INC COM 00846U101 630 17150 SH Sole 7400 9750 ALLIANCE IMAGING INC COM NEW 018606202 409 42500 SH Sole 42500 AMER BIO MEDICA CORP COM 024600108 864 882000 SH Sole 795000 87000 AMERICAN TECH NOLOGY CORP COM NEW 030145205 329 130000 SH Sole 130000 AMTECH SYS INC COMPAR0.01N 032332504 1068 82250 SH Sole 14100 68150 AMYLIN PHARMA CEUTICALS INC COM 032346108 1048 28325 SH Sole 18275 10050 ANTARES PHARMA INC COM 036642106 245 250000 SH Sole 250000 APPLIANCE RE CYCLING CTRS AME COM NEW 03814F205 5565 621804 SH Sole 534829 86975 APPLIED DIGITAL SOLUTIONS COM NEW 038188306 9 21350 SH Sole 16800 4550 ATS MED INC COM 002083103 471 213026 SH Sole 31500 181526 BANK OF AMERICA CORPORATION COM 060505104 392 9502 SH Sole 5400 4102 BOSTON SCIEN TIFIC CORP COM 101137107 801 68900 SH Sole 26750 42150 BROOKE CORP COM 112502109 253 37500 SH Sole 37500 CARDICA INC COM 14141R101 1723 169300 SH Sole 47050 122250 CASH SYSTEMS INC COM 14756B102 698 158000 SH Sole 102500 55500 CBL & ASSOC PPTYS INC COM 124830100 369 15425 SH Sole 8100 7325 CERNER CORP COM 156782104 353 6250 SH Sole 2500 3750 CHESAPEAKE ENERGY CORP COM 165167107 286 7300 SH Sole 4500 2800 CIPRICO INC COM 172529109 916 194000 SH Sole 88850 105150 CLARIENT INC COM 180489106 233 113700 SH Sole 21500 92200 COLEMAN CABLE INC COM 193459302 1307 138300 SH Sole 77000 61300 COMMTOUCH SOFTWARE LTD ORD M25596103 455 225000 SH Sole 225000 COMPUTER TASK GROUP INC COM 205477102 559 101000 SH Sole 100000 1000 CONCEPTUS INC COM 206016107 1839 95600 SH Sole 53750 41850 CONOCOPHILLIPS COM 20825C104 494 5600 SH Sole 2500 3100 CONSOL ENERGY INC COM 20854P109 644 9000 SH Sole 4600 4400 CYTORI THERA PEUTICS INC COM 23283K105 2702 446671 SH Sole 189905 256766 DATALINK CORP COM 237934104 42 11500 SH Sole 1500 10000 DELUXE CORP COM 248019101 717 21800 SH Sole 11075 10725 DIOMED HOLDINGS INC COM NEW 25454R207 96 300000 SH Sole 300000 DONALDSON INC COM 257651109 1308 28200 SH Sole 8600 19600 DOT HILL SYS CORP COM 25848T109 1134 466645 SH Sole 122370 344275 EBIX INC COM NEW 278715206 1555 21250 SH Sole 21250 EDAP TMS S A SPON ADR 268311107 384 80000 SH Sole 80000 ELECTRONICS FOR IMAGING INC COM 286082102 787 35000 SH Sole 12000 23000 ELIXIR GAMING TECHNOLOGIES I COM 28661G105 753 175000 SH Sole 175000 E M C CORP MASS COM 268648102 364 19650 SH Sole 3350 16300 ENDOLOGIX INC COM 29266S106 1854 662092 SH Sole 283200 378892 ENTRUST INC COM 293848107 324 168000 SH Sole 63500 104500 EV3 INC COM 26928A200 491 38650 SH Sole 19900 18750 FALCONSTOR SOFTWARE INC COM 306137100 638 56700 SH Sole 11400 45300 FULLER H B CO COM 359694106 769 34250 SH Sole 14500 19750 GENERAL ELECTRIC CO COM 369604103 378 10200 SH Sole 8000 2200 GLOBAL TRAFFIC NETWORK INC COM 37947B103 1485 227775 SH Sole 51175 176600 GLOBECOMM SYSTEMS INC COM 37956X103 4501 384740 SH Sole 128000 256740 GRAINGER W W INC COM 384802104 302 3450 SH Sole 1750 1700 GRANITE CITY FOOD & BREWERY COM 38724Q107 1956 735197 SH Sole 398963 336234 GULFMARK OFFSHORE INC COM 402629109 321 6850 SH Sole 4250 2600 HEALTH CARE REIT INC COM 42217K106 861 19275 SH Sole 9350 9925 HEALTH FITNESS CORP COM 42217V102 6897 2602457 SH Sole 1305650 1296807 HEI INC COM 404160103 60 100000 SH Sole 100000 HESKA CORPORATION COM 42805E108 366 200000 SH Sole 200000 ILLUMINA INC COM 452327109 4024 67900 SH Sole 37825 30075 I-MANY INC COM 44973Q103 778 251000 SH Sole 250000 1000 IMMUNOGEN INC COM 45253H101 264 63500 SH Sole 46000 17500 INNOVEX INC COM 457647105 1471 1751300 SH Sole 980900 770400 INSIGNIA SYS INC COM 45765Y105 3730 1327417 SH Sole 1042500 284917 INTEGRAMED AMER INC COM NEW 45810N302 863 75000 SH Sole 75000 INTERNATIONAL BUSINESS MACHS COM 459200101 316 2925 SH Sole 1100 1825 IOMEGA CORP COM NEW 462030305 364 105000 SH Sole 105000 IRIS INTL INC COM 46270W105 687 35000 SH Sole 35000 ISIS PHARMA CEUTICALS INC COM 464330109 5514 350125 SH Sole 180200 169925 ITERIS INC COM 46564T107 794 200000 SH Sole 200000 I-TRAX INC COM NEW 45069D203 5668 1596580 SH Sole 596900 999680 JOHNSON & JOHNSON COM 478160104 497 7450 SH Sole 4150 3300 LAKES ENTMNT INC COM 51206P109 657 94800 SH Sole 64000 30800 LANDEC CORP COM 514766104 469 35000 SH Sole 35000 LIFECELL CORP COM 531927101 2501 58025 SH Sole 31775 26250 LIFECORE BIOMEDICAL INC COM 532187101 4471 309425 SH Sole 196925 112500 LINDSAY CORP COM 535555106 1354 19150 SH Sole 7100 12050 LUMINEX CORP DEL COM 55027E102 463 28500 SH Sole 15350 13150 MANPOWER INC COM 56418H100 782 13750 SH Sole 4800 8950 MARATHON OIL CORP COM 565849106 520 8550 SH Sole 4200 4350 MATHSTAR INC COM 576801203 1006 1548079 SH Sole 572878 975201 MATRIXX INITATIVES INC COM 57685L105 348 25000 SH Sole 25000 MEDTOX SCIENTIFIC INC COM NEW 584977201 1231 68082 SH Sole 60000 8082 MEDTRONIC INC COM 585055106 1018 20250 SH Sole 3100 17150 MERCK & CO INC COM 589331107 320 5500 SH Sole 5000 500 MICROTUNE INC DEL COM 59514P109 114 17500 SH Sole 8500 9000 MONOGRAM BIOSCIENCES INC COM 60975U108 1604 1129300 SH Sole 301050 828250 MULTIBAND CORP COM NEW 62544X209 119 44000 SH Sole 44000 NATIONAL CITY CORP COM 635405103 165 10000 SH Sole 6500 3500 NATURAL HEALTH TRENDS CORP COMPAR0.001 63888P406 182 150000 SH Sole 150000 NATURE VISION INC COM 63902E106 194 122590 SH Sole 53500 69090 NETSCOUT SYS INC COM 64115T104 1900 148750 SH Sole 39200 109550 NORTECH SYS INC COM 656553104 157 25000 SH Sole 24000 1000 OCULUS INNOVATIVE SCIENCES I COM 67575P108 898 219000 SH Sole 114600 104400 ON2 TECH NOLOGIES INC COM 68338A107 1962 1923350 SH Sole 498500 1424850 ONCOTHYREON INC COM 682324108 819 367413 SH Sole 214083.6 153329.4 OPENTV CORP CL A G67543101 90 68150 SH Sole 12550 55600 ORTHOVITA INC COM 68750U102 3107 890300 SH Sole 382500 507800 OSHKOSH TRUCK CORP COM 688239201 456 9650 SH Sole 4650 5000 PATTERSON COMPANIES INC COM 703395103 536 15800 SH Sole 5000 10800 PENTAIR INC COM 709631105 458 13150 SH Sole 5800 7350 PETROLEUM DEV CORP COM 716578109 772 13050 SH Sole 3750 9300 PFIZER INC COM 717081103 1738 76469 SH Sole 15150 61319 POKERTEK INC COM 730864105 323 41650 SH Sole 6500 35150 POLYMET MINING CORP COM 731916102 700 216000 SH Sole 150000 66000 PRIDE INTL INC DEL COM 74153Q102 912 26900 SH Sole 10600 16300 RCM TECH NOLOGIES INC COM NEW 749360400 1093 185837 SH Sole 109500 76337 RESTORE MEDICAL INC COM 76128C100 1237 824360 SH Sole 504350 320010 RIMAGE CORP COM 766721104 1984 76464 SH Sole 16950 59514 ROCKWELL MEDICAL TECH COM 774374102 3254 453200 SH Sole 160000 293200 ROSETTA GENOMICS LTD SHS M82183100 745 145000 SH Sole 33000 112000 RUSH ENTER PRISES INC CL A 781846209 1023 56250 SH Sole 44250 12000 SIMTEK CORP COM NEW 829204304 31 13150 SH Sole 6500 6650 SOFTBRANDS INC COM 83402A107 2758 1532161 SH Sole 610250 921911 SPAN AMER MED SYS INC COM 846396109 257 22750 SH Sole 16000 6750 SPARTAN MTRS INC COM 846819100 90 11775 SH Sole 5250 6525 SPECTRUM BRANDS INC COM 84762L105 344 64500 SH Sole 56500 8000 ST JUDE MED INC COM 790849103 3515 86498 SH Sole 10650 75848 STEN CORP COM 85857T101 155 100000 SH Sole 100000 SUMTOTAL SYS INC COM 866615107 1007 212076 SH Sole 56112 155964 SUPERVALU INC COM 868536103 540 14400 SH Sole 3700 10700 SURMODICS INC COM 868873100 757 13950 SH Sole 8200 5750 SYNOVIS LIFE TECH NOLOGIES IN COM 87162G105 6646 339950 SH Sole 255600 84350 TARGET CORP COM 87612E106 260 5200 SH Sole 5200 TCF FINL CORP COM 872275102 1289 71900 SH Sole 31600 40300 TENNANT CO COM 880345103 2178 49170 SH Sole 19800 29370 TEXAS INSTRS INC COM 882508104 381 11395.35 SH Sole 650 10745.35 THIRD WAVE TECH NOLOGIES INC COM 88428W108 2934 304050 SH Sole 171050 133000 TITAN MACHY INC COM 88830R101 2247 171500 SH Sole 73625 97875 TITAN PHARMA CEUTICALS INC DE COM 888314101 29 17500 SH Sole 7500 10000 UFP TECH NOLOGIES INC COM 902673102 735 100000 SH Sole 100000 UNION DRILLING INC COM 90653P105 473 30000 SH Sole 30000 UROLOGIX INC COM 917273104 654 563875 SH Sole 269300 294575 UROPLASTY INC COM NEW 917277204 3663 872102 SH Sole 587602 284500 US BANCORP DEL COM NEW 902973304 939 29589 SH Sole 12634 16955 VITAL IMAGES INC COM 92846N104 8425 466239 SH Sole 193500 272739 WELLS FARGO & CO NEW COM 949746101 210 6950 SH Sole 1650 5300 WESTAFF INC COM 957070105 131 33141 SH Sole 33141 WESTMORELAND COAL CO COM 960878106 192 13800 SH Sole 5500 8300 WIRELESS RONIN TECHNOLOGIES COM 97652A203 2983 1025033 SH Sole 408590 616443 WYETH COM 983024100 640 14494 SH Sole 5750 8744 XOMA LTD ORD G9825R107 935 275700 SH Sole 172900 102800 ZIX CORP COM 98974P100 12078 2625651 SH Sole 877150 1748501 ZOLTEK COS INC COM 98975W104 772 18000 SH Sole 11200 6800 TOTAL VALUE 179171 DATA RECORDS 140 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED 0